WHEFA bond financing helps Divine Savior Healthcare, Inc. refinance in Portage
“As with our previous financing efforts, the success of securing low cost tax-exempt financing was enhanced by the support and expertise of the WHEFA staff. Accessing the tax-exempt marketplace has enabled us to continue improving access to quality, high valued services to our Community, the cornerstone of our strategic plan. Working with the WHEFA staff has been a pleasure.”
— Marlin “Pete” Nelson, VP of Finance, Divine Savior Healthcare, Inc.
Divine Savior Healthcare, Inc. employs approximately 735 full-time equivalents in Wisconsin.
Bond financing facilitated by WHEFA was used to help Divine Savior Healthcare, Inc. refinance bonds previously issued by WHEFA in 2006. The net present value savings following the refinancing was approximately $4.75 million. This federally tax-exempt financing process has enabled Divine Savior Healthcare, Inc. to operate more effectively by financing its capital expenses at a lower interest rate (initially 2.639%).
WHEFA is proud to have been able to assist Divine Savior Healthcare, Inc. by reducing their overall debt service and allowing them to grow and compete by providing access to low-cost private capital.
For more information visit our website at www.whefa.com or please contact:
Dennis Reilly | Executive Director
p: 262.792.0466 | e: info@whefa.com
About WHEFA
For over 37 years, WHEFA has been quietly fulfilling its mission of assisting Wisconsin’s non-profit institutions to obtain access to low-cost capital in order to finance or refinance their building and equipment improvements and expansion needs. During this time, WHEFA has issued over $24 billion of federally tax-exempt bonds to provide several hundred Wisconsin non-profit corporations access to private and public capital markets at lower costs than are available to them in the conventional marketplace.
Pursuant to Section 231.10 of the Wisconsin Statutes, bonds issued by WHEFA are not considered indebtedness of the State of Wisconsin, and the State has no obligation to repay any bonds issued by WHEFA under any circumstances. Additionally, WHEFA does not utilize any State moneys to fund its operations.
